L.A. Times, 3-25-04, page C-1, "Modest Job Growth is Forecast in State, U.S.":
"Economists at the UCLA Anderson Forecast...in their quarterly report released today, they predicted that new hiring would be constrained by weaker consumer spending and bulging government budget deficits...On the whole, economic and job growth will do well to remain modest in the next couple years, the report said...If UCLA's widely followed projections prove correct, they have significant implications for Washington and Sacramento. The presistent lack of new jobs has been a dominant issue in the reelection bid by President Bush whose administration had estimated last fall that federal tax cuts would help create 200,000 net jobs a month. But the U.S. economy has added an average of only 60,000 payrolls a month since August, and by UCLA's reckoning, that will improve to about 125,000 over the next couple of years -- still 25,000 shy of what's needed just to keep the jobless rate from rising. 'It isn't going to turn around on a dime between now and November,' said Michael Bazdarich, author of UCLA's national report."
www.latimes.com
U.S. News & World Report, April 5, 2004, page 44:
"Not only have there been signs of weakness in the manufacturing recovery, but the job market also continues to sputter. No wonder all eyes will be on this week's jobs report. While Wall Street expects that around 100,000 new jobs were created in March, that is a far cry from the 200,000-plus positions typically produced in a robust economy."
www.usnews.com
[ March 30, 2004, 09:17 PM: Message edited by: TC ]